Home Bancorp Announces 2011 Fourth Quarter and Annual Results

LAFAYETTE, La., Jan. 26, 2012 /PRNewswire/ -- Home Bancorp, Inc. (Nasdaq: HBCP) (the "Company"), the parent company for Home Bank (www.home24bank.com), a Federally chartered savings bank headquartered in Lafayette, Louisiana (the "Bank"), announced net income of $2.1 million for the fourth quarter of 2011, an increase of $1.2 million, or 131%, compared to the third quarter of 2011 and an increase of $669,000, or 46%, compared to the fourth quarter of 2010. The third and fourth quarters of 2011 include pre-tax expenses related to the acquisition of GS Financial Corp. of $1.4 million and $604,000, respectively. Excluding merger-related expenses, net income for the fourth quarter of 2011 was $2.5 million, an increase of 34% and 73% compared to the third quarter of 2011 and the fourth quarter of 2010, respectively.

Diluted earnings per share were $0.30 for the fourth quarter of 2011, compared to $0.13 for the third quarter of 2011 and $0.20 for the fourth quarter of 2010. Excluding merger-related expenses, diluted earnings per share were $0.36 for the fourth quarter of 2011, increases of 33% and 71% compared to the third quarter of 2011 and the fourth quarter of 2010, respectively.

Net income for the year ended December 31, 2011 was $5.1 million, an increase of $432,000, or 9%, compared to 2010. Diluted earnings per share for 2011 were $0.71, an increase of 15% compared to $0.62 in 2010.

"We are pleased with the direction of our financial results," stated John W. Bordelon, President and Chief Executive Officer of the Company and the Bank, "and are even more excited about the development of our team. We have assembled a team of bankers who are committed to expanding customer relationships through sound financial advice and products. We seek to differentiate ourselves daily by offering flexible and timely solutions that better the lives of our customers."

"Our prospects for 2012 are strong due to the economic health of our markets and our reputation for doing what's best for our customers," added Mr. Bordelon. "We are focused on continually enhancing shareholder value through improved earnings."

Acquisition of GS Financial Corp.

As previously reported, the Company now serves the Greater New Orleans area through its acquisition of GS Financial Corp., the former holding company of Guaranty Savings Bank ("GSB") of Metairie, Louisiana, on July 15, 2011. As a result of the transaction, the Company acquired $256.8 million of assets, including loans of $182.5 million, and $230.7 million in deposits and other liabilities. Shareholders of GS Financial Corp. received $21.00 per share in cash, resulting in a total purchase price of $26.4 million.

Total loans were $666.4 million at December 31, 2011, an increase of $12.7 million, or 2%, from September 30, 2011, and an increase of $226.5 million, or 51%, from December 31, 2010. Fourth quarter 2011 loan growth was in construction and land loans (up $8.6 million), commercial real estate loans (up $5.0 million) and multi-family residential loans (up $4.8 million). These increases were offset by decreases in one- to four- family first mortgage loans (down $5.2 million) and commercial and industrial loans (down $2.1 million). The increase in loans during 2011 was primarily the result of the loans acquired in the acquisition of GSB, which totaled $182.5 million at the acquisition date.

In connection with the Company's acquisition of certain assets and liabilities of Statewide Bank from the Federal Deposit Insurance Corporation ("FDIC") in March 2010, Home Bank entered into loss sharing agreements with the FDIC which cover the loan portfolio acquired from Statewide Bank ("Covered Loans") and other repossessed assets (collectively referred to as "Covered Assets"). Under the terms of the loss sharing agreements, the FDIC will absorb 80% of the first $41 million of losses incurred on Covered Assets and 95% of losses on Covered Assets exceeding $41 million. Covered loans totaled $61.1 million at December 31, 2011, down $6.2 million and down $19.4 million compared to September 30, 2011 and December 31, 2010, respectively.

The following table sets forth the composition of the Company's loan portfolio as of the dates indicated.

December 31,

December 31,

Increase/(Decrease)

(dollars in thousands)

2011

2010

Amount

Percent

Real estate loans:

One- to four-family first mortgage

$182,817

$ 122,614

$ 60,203

49%

Home equity loans and lines

43,665

30,915

12,750

41

Commercial real estate

226,999

150,824

76,175

51

Construction and land

78,994

57,538

21,456

37

Multi-family residential

20,125

5,718

14,407

252

Total real estate loans

552,600

367,609

184,991

50

Other loans:

Commercial and industrial

82,980

48,410

34,570

71

Consumer

30,791

23,892

6,899

29

Total other loans

113,771

72,302

41,469

57

Total loans

$666,371

$ 439,911

$226,460

51%

Nonperforming assets ("NPAs") totaled $30.4 million at December 31, 2011, an increase of $2.4 million compared to September 30, 2011 and an increase of $7.6 million compared to December 31, 2010. NPAs include $16.6 million in Covered Assets and $9.9 million acquired from GSB. Excluding Covered Assets, the ratio of NPAs to total assets was 1.55% at December 31, 2011, compared to 1.32% at September 30, 2011 and 0.19% at December 31, 2010.

The Company recorded net loan recoveries of $7,000 during the fourth quarter of 2011, compared to net loan charge-offs of $53,000 in the third quarter of 2011 and $151,000 in the fourth quarter of 2010.

The Company's loan loss provision for the fourth quarter of 2011 was $568,000, compared to $526,000 for the third quarter of 2011 and $147,000 for the fourth quarter of 2010. The increases compared to the fourth quarter of 2010 are primarily attributable to loan growth and modest downgrades of certain loans in the Company's organic (i.e., not acquired) loan portfolio.

At December 31, 2011, the Company's ratio of allowance for loan losses to total loans was 0.77%, compared to 0.69% and 0.89% at September 30, 2011 and December 31, 2010, respectively. The increase in the ratio of allowance for loan losses to total loans during the fourth quarter was due to loan growth and modest downgrades of certain loans. The decrease in the fourth quarter 2011 ratio of allowance for loan losses to total loans compared to fourth quarter 2010 relates primarily to the acquisition of the GSB loans. Under accounting rules generally accepted in the United States, an acquirer may not carry over the acquiree's allowance for loan losses. Instead, the acquirer must fair value the cash flows expected to be derived from the acquired loan portfolio. Management has included its credit loss expectations in the acquired loan portfolio's cash flow assumptions used to derive the portfolio's fair value. Hence, management believes that expected credit losses in the acquired loan portfolio were appropriately addressed in the fair value adjustments recorded on the acquired loan portfolio. Excluding acquired loans of GSB and Statewide Bank, the ratio of allowance for loan losses to total organic loans was 1.14% at December 31, 2011. Subsequent to acquisitions, ongoing evaluations of the acquired loan portfolio may result in additional provisions for the acquired loans.

Investment Securities Portfolio

The Company's investment securities portfolio totaled $158.7 million at December 31, 2011, a decrease of $10.7 million, or 6%, from September 30, 2011, and an increase of $31.5 million, or 25%, from December 31, 2010. The decrease in investment securities during the fourth quarter of 2011 resulted primarily from paydowns, calls and maturities during the period. The increase compared to December 31, 2010 resulted primarily from the addition of $46.5 million in investment securities acquired from GSB. At December 31, 2011, the Company had a net unrealized gain position on its investment securities portfolio of $2.6 million, compared to net unrealized gains of $2.5 million and $1.0 million as of September 30, 2011 and December 31, 2010, respectively.

The Company maintains a portfolio of non-agency mortgage-backed securities, which had an amortized cost of $14.8 million at December 31, 2011. Each of these securities is rated investment grade by Standard & Poor's and/or Moody's.

Deposits totaled $730.7 million at December 31, 2011, an increase of $11.3 million, or 2%, from September 30, 2011, and $177.5 million, or 32%, from December 31, 2010. The acquisition of GSB added $193.5 million in deposits. The Company's organic core deposits (i.e., checking, savings and money market accounts) increased for the tenth consecutive quarter, posting growth of $12.7 million, or 3.6%, during the fourth quarter of 2011.

The following table sets forth the composition of the Company's deposits at the dates indicated.

December31,

December31,

Increase / (Decrease)

(dollars in thousands)

2011

2010

Amount

Percent

Demand deposit

$ 127,828

$ 100,579

$ 27,249

27%

Savings

43,671

29,258

14,413

49

Money market

180,790

133,245

47,545

36

NOW

93,679

68,398

25,281

37

Certificates of deposit

284,766

221,738

63,028

28

Total deposits

$ 730,734

$ 553,218

$177,516

32

Share Repurchases

The Company purchased 102,200 shares of its common stock during the fourth quarter of 2011 at an average price per share of $14.83 under the share repurchase plan announced in May 2011. The Company may repurchase up to 402,835 shares, or approximately 5%, of the Company's outstanding common stock under the May 2011 plan. As of January 20, 2012, the Company has purchased 304,325 shares under the plan at an average price per share of $14.55; hence, 98,510 additional shares remain eligible for purchase under the plan. The tangible book value per share of the Company's common stock was $16.96 at December 31, 2011.

Net Interest Income

Net interest income for the fourth quarter of 2011 totaled $10.0 million, an increase of $593,000, or 6%, compared to the third quarter of 2011, and an increase of $2.8 million, or 40%, compared to the fourth quarter of 2010. The Company's net interest margin was 4.66% for the fourth quarter of 2011, eight basis points higher than the third quarter of 2011 and four basis points lower than the fourth quarter of 2010. The increase in the net interest margin compared to the third quarter of 2011 was primarily due to changes in the mix of interest-earning assets. The decrease in the net interest margin compared to the fourth quarter of 2010 was primarily due to lower average yields on interest-earning assets resulting from the current interest rate environment and lower costs on interest-bearing liabilities.

Net interest income for 2011 totaled $33.2 million, an increase of $5.4 million, or 20%, compared to 2010. The 20% increase relates primarily to the acquisition of GSB and organic loan and core deposit growth. The Company's net interest margin was 4.64% in 2011, two basis points higher than 2010, which was the result of mix changes in interest-earnings assets and lower costs on interest-bearing liabilities.

The following table sets forth the Company's average balance and average yields earned and rates paid on its interest-earning assets and interest-bearing liabilities for the periods indicated.

For the Three Months Ended

December 31, 2011

September 30, 2011

December 31, 2010

(dollars in thousands)

Average Balance

Average Yield/Rate

Average Balance

Average Yield/Rate

Average Balance

Average Yield/Rate

Interest-earning assets:

Loans receivable

$662,429

6.26%

$612,416

6.30%

$448,172

6.61%

Investment securities

162,367

2.18

174,208

2.36

124,561

3.39

Other interest-earning assets

26,026

0.79

28,447

0.51

32,045

0.47

Total interest-earning assets

$850,822

5.35

$815,071

5.30

$604,778

5.62

Interest-bearing liabilities:

Deposits:

Savings, checking, and money market

$314,695

0.47

$300,000

0.52

$220,556

0.56

Certificates of deposit

284,169

1.16

273,407

1.20

228,848

1.70

Total interest-bearing deposits

598,864

0.80

573,407

0.84

449,404

1.14

FHLB advances

103,011

0.75

105,828

0.68

14,027

3.17

Total interest-bearing liabilities

$701,875

0.79

$679,235

0.82

$463,431

1.20

Net interest spread

4.56%

4.48%

4.42%

Net interest margin

4.66

4.58

4.70

For the Year Ended

December 31, 2011

December 31, 2010

(dollars in thousands)

Average

Balance

Average

Yield/Rate

Average

Balance

Average

Yield/Rate

Interest-earning assets:

Loans receivable

$539,956

6.43%

$447,606

6.38%

Investment securities

153,175

2.38

129,523

3.84

Other interest-earning assets

25,072

0.68

23,926

0.55

Total interest-earning assets

$718,203

5.30

$601,055

5.60

Interest-bearing liabilities:

Deposits:

Savings, checking, and money market

$272,512

0.50

$196,561

0.65

Certificates of deposit

239,584

1.34

239,872

1.68

Total interest-bearing deposits

512,096

0.89

436,433

1.22

FHLB advances

66,264

0.88

20,587

2.75

Total interest-bearing liabilities

$578,360

0.89

$457,020

1.29

Net interest spread

4.41%

4.31%

Net interest margin

4.64

4.62

Noninterest Income

Noninterest income for the fourth quarter of 2011 totaled $1.9 million, an increase of $259,000, or 16%, compared to the third quarter of 2011 and an increase of $380,000, or 26%, compared to the fourth quarter of 2010. The increase in noninterest income in the fourth quarter of 2011 compared to the third quarter of 2011 was primarily the result of increased gains on the sale of mortgage loans of $357,000, or 217%. The increase in noninterest income in the fourth quarter of 2011 compared to the fourth quarter of 2010 was primarily the result of increased gains on the sale of mortgage loans of $183,000, or 54%, and the absence of OTTI charges of $218,000 incurred in the fourth quarter of 2010.

Noninterest income for 2011 totaled $6.8 million, an increase of $2.3 million, or 51%, from 2010. The increase in noninterest income in 2011 compared to 2010 was primarily the result of the absence of OTTI charges of $1.2 million incurred in 2010 and a $525,000 payment received in settlement of a lawsuit during the second quarter of 2011. Additionally, service fees and charges, bank card fees and gains on the sale of mortgage loans increased in 2011 compared to 2010 as a result of the GSB acquisition and organic customer growth.

Noninterest Expense

Noninterest expense for the fourth quarter of 2011 totaled $8.1 million, a decrease of $1.1 million, or 12%, compared to the third quarter of 2011 and an increase of $1.8 million, or 29%, compared to the fourth quarter of 2010. Noninterest expense for the third and fourth quarters of 2011 include pre-tax expenses related to the acquisition of GSB of $1.4 million and $604,000, respectively. Such merger-related expenses included professional fees, data conversion and severance and other employee costs associated with the merger and related systems conversion. Excluding merger-related expenses, noninterest expense for the fourth quarter of 2011 totaled $7.5 million, a decrease of $255,000, or 3%, compared to the third quarter of 2011 and an increase of $1.2 million, or 19%, compared to the fourth quarter of 2010.

Exclusive of merger-related expenses, the decrease in noninterest expense during the fourth quarter of 2011 compared to the third quarter of 2011 was primarily attributable to decreases in accruals for the Louisiana shares tax and FDIC assessments. Such decreases were partially offset by increased foreclosed asset collection expenses.

Exclusive of merger-related expenses, the increase in noninterest expense in the fourth quarter of 2011 compared to the same quarter last year was primarily attributable to the growth of the Company's branch network due to the GSB acquisition.

Noninterest expense for 2011 totaled $30.8 million, an increase of $6.4 million, or 26%, from 2010. The increase in noninterest expense in 2011 compared to 2010 was primarily the result of higher compensation and benefits, occupancy and data processing and communications expenses related primarily to the GSB acquisition.

Non-GAAP Reconciliation

For the Three Months Ended

(dollars in thousands)

December 31, 2011

September 30, 2011

December 31, 2010

Reported noninterest expense

$ 8,083

$ 9,182

$ 6,273

Less: Merger-related expenses

(604)

(1,449)

-

Non-GAAP noninterest expense

$ 7,479

$ 7,733

$ 6,273

Reported net income

$ 2,134

$ 923

$ 1,465

Add: Merger-related expenses (after tax)

396

959

-

Non-GAAP net income

$ 2,530

$ 1,882

$ 1,465

For the Year Ended

(dollars in thousands)

December 31, 2011

December 31, 2010

Reported noninterest expense

$ 30,783

$24,373

Less: Merger-related expenses

(2,053)

-

Non-GAAP noninterest expense

$ 28,730

$24,373

Reported net income

$ 5,120

$ 4,688

Add: Merger-related expenses (after tax)

1,355

-

Non-GAAP net income

$ 6,475

$ 4,688

This news release contains financial information determined by methods other than in accordance with generally accepted accounting principles ("GAAP"). The Company's management uses this non-GAAP financial information in its analysis of the Company's performance. In this news release, information is included which excludes the impact of merger-related expenses. Management believes the presentation of this non-GAAP financial information provides useful information that is essential to a proper understanding of the Company's core operating results. This non-GAAP financial information should not be viewed as a substitute for operating results determined in accordance with GAAP, nor are they necessarily comparable to non-GAAP financial information presented by other companies.

This news release contains certain forwardlooking statements. Forwardlooking statements can be identified by the fact that they do not relate strictly to historical or current facts. They often include the words "believe," "expect," "anticipate," "intend," "plan," "estimate" or words of similar meaning, or future or conditional verbs such as "will," "would," "should," "could" or "may."

Forwardlooking statements, by their nature, are subject to risks and uncertainties. A number of factors many of which are beyond our control could cause actual conditions, events or results to differ significantly from those described in the forwardlooking statements. Home Bancorp's Annual Report on Form 10-K for the year ended December 31, 2010, describes some of these factors, including risk elements in the loan portfolio, the level of the allowance for losses on loans, risks of our growth strategy, geographic concentration of our business, dependence on our management team, risks of market rates of interest and of regulation on our business and risks of competition. Forwardlooking statements speak only as of the date they are made. We do not undertake to update forwardlooking statements to reflect circumstances or events that occur after the date the forwardlooking statements are made or to reflect the occurrence of unanticipated events.

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF FINANCIAL CONDITION

December 31,

December 31,

%

September 30,

2011

2010

Change

2011

Assets

Cash and cash equivalents

$ 31,272,508

$ 36,970,638

(15) %

$ 32,916,713

Interest-bearing deposits in banks

5,583,000

7,867,000

(29)

6,318,000

Investment securities available for sale, at fair value

155,259,978

111,962,331

39

165,513,687

Investment securities held to maturity

3,461,717

15,220,474

(77)

3,938,656

Mortgage loans held for sale

1,672,597

2,436,986

(31)

8,928,396

Loans covered by loss sharing agreements

61,070,360

80,446,859

(24)

67,296,479

Noncovered loans, net of unearned income

605,301,127

359,464,400

68

586,339,131

Total loans

666,371,487

439,911,259

51

653,635,610

Allowance for loan losses

(5,104,363)

(3,919,745)

30

(4,529,834)

Total loans, net of allowance for loan losses

661,267,124

435,991,514

52

649,105,776

FDIC loss sharing receivable

24,222,190

32,012,783

(24)

25,628,190

Office properties and equipment, net

31,763,692

23,371,915

36

31,314,946

Cash surrender value of bank-owned life insurance

16,771,174

16,192,645

4

16,628,613

Accrued interest receivable and other assets

32,515,158

18,396,806

77

31,880,426

Total Assets

$ 963,789,138

$ 700,423,092

38

$ 972,173,403

Liabilities

Deposits

$ 730,733,755

$ 553,217,853

32%

$ 719,460,464

Federal Home Loan Bank advances

93,622,954

13,000,000

620

113,458,132

Accrued interest payable and other liabilities

5,147,595

2,675,297

92

6,187,857

Total Liabilities

829,504,304

568,893,150

46

839,106,453

Shareholders' Equity

Common stock

89,335

89,270

-%

89,497

Additional paid-in capital

89,741,406

88,818,862

1

89,336,376

Treasury stock

(15,892,315)

(10,425,725)

52

(14,376,355)

Common stock acquired by benefit plans

(8,625,513)

(9,770,556)

(12)

(8,714,783)

Retained earnings

67,245,350

62,125,568

8

65,111,099

Accumulated other comprehensive income

1,726,571

692,523

149

1,621,116

Total Shareholders' Equity

134,284,834

131,529,942

2

133,066,950

Total Liabilities and Shareholders' Equity

$ 963,789,138

$ 700,423,092

38

$ 972,173,403

HOME BANCORP, INC. AND SUBSIDIARY

CONDENSED STATEMENTS OF INCOME

For The Three Months Ended

For The Year Ended

December 31,

%

December 31,

%

2011

2010

Change

2011

2010

Change

Interest Income

Loans, including fees

$ 10,450,022

$ 7,456,346

40%

$ 34,604,712

$ 28,556,905

21%

Investment securities

883,979

1,056,751

(16)

3,686,134

4,969,876

(26)

Other investments and deposits

36,803

37,895

(3)

144,346

132,121

9

Total interest income

11,370,804

8,550,992

33

38,435,192

33,658,902

14

Interest Expense

Deposits

1,194,653

1,294,223

(8) %

4,626,198

5,316,147

(13) %

Federal Home Loan Bank advances

194,407

111,440

74

590,972

565,011

5

Total interest expense

1,389,060

1,405,663

(1)

5,217,170

5,881,158

(11)

Net interest income

9,981,744

7,145,329

40

33,218,022

27,777,744

20

Provision for loan losses

567,968

147,297

286

1,460,427

864,659

69

Net interest income after provision for loan losses

9,413,776

6,998,032

35

31,757,595

26,913,085

18

Noninterest Income

Service fees and charges

538,368

477,547

13%

2,160,706

2,013,358

7%

Bank card fees

443,407

405,685

9

1,737,554

1,418,620

22

Gain on sale of loans, net

520,493

337,435

54

910,165

716,252

27

Income from bank-owned life insurance

142,561

158,496

(10)

578,529

631,702

(8)

Other-than-temporary impairment of securities

-

(218,266)

-

-

(1,229,037)

-

Gain (loss) on the sale of securities, net

(4,706)

19,573

(124)

(170,788)

58,704

(391)

Discount accretion of FDIC loss sharing receivable

187,799

236,895

(21)

851,080

738,431

15

Settlement of litigation

-

-

-

525,000

-

-

Other income

30,461

60,787

(50)

188,750

144,045

31

Total noninterest income

1,858,383

1,478,152

26

6,780,996

4,492,075

51

Noninterest Expense

Compensation and benefits

4,692,503

3,797,201

24%

17,821,501

14,505,004

23%

Occupancy

799,493

565,753

41

2,633,558

2,217,788

19

Marketing and advertising

312,733

238,500

31

980,557

826,616

19

Data processing and communication

713,701

493,814

45

3,141,776

2,141,975

47

Professional fees

203,524

188,737

8

1,378,504

1,084,170

27

Forms, printing and supplies

139,997

131,860

6

542,079

512,777

6

Franchise and shares tax

93,783

(40,515)

331

675,801

400,589

69

Regulatory fees

169,375

228,244

(26)

857,990

620,526

38

Foreclosed assets, net

242,590

173,488

40

471,637

241,593

95

Other expenses

715,087

495,880

44

2,279,996

1,822,107

25

Total noninterest expense

8,082,786

6,272,962

29

30,783,399

24,373,145

26

Income before income tax expense

3,189,373

2,203,222

45

7,755,192

7,032,015

10

Income tax expense

1,055,122

738,301

43

2,635,411

2,343,890

12

Net income

$ 2,134,251

$ 1,464,921

46%

$ 5,119,781

$ 4,688,125

9%

Earnings per share - basic

$ 0.31

$ 0.20

55%

$ 0.72

$ 0.62

16%

Earnings per share - diluted

$ 0.30

$ 0.20

50

$ 0.71

$ 0.62

15

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY FINANCIAL INFORMATION

For The Three Months Ended

For The Three

December 31,

%

Months Ended

%

2011

2010

Change

September 30, 2011

Change

(dollars in thousands except per share data)

EARNINGS DATA

Total interest income

$ 11,371

$ 8,550

33%

$ 10,788

5%

Total interest expense

1,389

1,406

(1)

1,400

(1)

Net interest income

9,982

7,144

40

9,388

6

Provision for loan losses

568

147

286

526

8

Total noninterest income

1,858

1,478

26

1,599

16

Total noninterest expense

8,083

6,272

29

9,182

(12)

Income tax expense

1,055

738

43

356

196

Net income

$ 2,134

$ 1,465

46

$ 923

131

AVERAGE BALANCE SHEET DATA

Total assets

$ 965,357

$ 698,683

38%

$ 926,101

4%

Total interest-earning assets

850,822

604,778

41

815,071

4

Totals loans

662,429

448,172

48

612,416

8

Total interest-bearing deposits

598,864

449,404

33

573,407

4

Total interest-bearing liabilities

701,875

463,431

51

679,235

3

Total deposits

724,717

551,010

32

689,014

5

Total shareholders' equity

133,899

131,802

2

127,750

5

SELECTED RATIOS (1)

Return on average assets

0.88%

0.84%

5%

0.40%

120%

Return on average equity

6.38

4.45

43

2.89

121

Efficiency ratio (2)

68.27

72.74

(6)

83.57

(18)

Average equity to average assets

13.87

18.86

(26)

13.79

1

Tier 1 leverage capital ratio (3)

12.52

15.46

(19)

12.17

3

Total risk-based capital ratio (3)

21.08

23.65

(11)

21.17

-

Net interest margin (4)

4.66

4.70

(1)

4.58

2

PER SHARE DATA

Basic earnings per share

$ 0.31

$ 0.20

55%

$ 0.13

138%

Diluted earnings per share

0.30

0.20

50

0.13

131

Book value at period end

17.30

16.18

7

16.92

2

Tangible book value at period end

16.96

15.46

10

16.60

2

PER SHARE DATA

Shares outstanding at period end

7,759,954

8,311,602

(7)%

7,862,154

(1) %

Weighted average shares outstanding

Basic

6,882,206

7,274,882

(5)%

7,173,443

(4) %

Diluted

7,033,984

7,347,275

(4)

7,274,615

(3)

(1) With the exception of end-of-period ratios, all ratios are based on average monthly balances during the respective periods.

(2) The efficiency ratio represents noninterest expense as a percentage of total revenues. Total revenues is the sum of net interest income and noninterest income.

(3) Capital ratios are end of period ratios for the Bank only.

(4) Net interest margin represents net interest income as a percentage of average interest-earning assets.

HOME BANCORP, INC. AND SUBSIDIARY

SUMMARY CREDIT QUALITY INFORMATION

December 31, 2011

September 30, 2011

December 31, 2010

Covered

Noncovered

Total

Covered

Noncovered

Total

Covered

Noncovered

Total

(dollars in thousands)

CREDIT QUALITY (1) (2)

Nonaccrual loans

$ 10,460

$ 11,000

$ 21,460

$ 10,680

$ 8,791

$ 19,471

$ 15,988

$ 1,056

$ 17,044

Accruing loans past due 90 days and over

-

-

-

-

-

-

-

-

-

Total nonperforming loans

10,460

11,000

21,460

10,680

8,791

19,471

15,988

1,056

17,044

Other real estate owned

6,096

2,868

8,964

5,495

3,066

8,561

5,661

92

5,753

Total nonperforming assets

16,556

13,868

30,424

16,175

11,857

28,032

21,649

1,148

22,797

Performing troubled debt restructurings

26

572

598

29

587

616

-

721

721

Total nonperforming assets and troubled

debt restructurings

$ 16,582

$ 14,440

$ 31,022

$ 16,204

$ 12,444

$ 28,648

$ 21,649

$ 1,869

$ 23,518

Nonperforming assets to total assets

3.16%

2.88%

3.25%

Nonperforming loans to total assets

2.23

2.00

2.43

Nonperforming loans to total loans

3.21

2.98

3.87

Allowance for loan losses to nonperforming assets

16.78

16.16

17.19

Allowance for loan losses to nonperforming loans

23.79

23.26

23.00

Allowance for loan losses to total loans

0.77

0.69

0.89

Year-to-date loan charge-offs

$ 334

$ 320

$ 369

Year-to-date loan recoveries

58

38

72

Year-to-date net loan charge-offs

$ 276

$ 282

$ 297

Annualized YTD net loan charge-offs to total loans

0.04%

0.06%

0.07%

(1) Nonperforming loans consist of nonaccruing loans and loans 90 days or more past due. Nonperforming assets consist of nonperforming loans and repossessed assets. It is our policy to cease accruing interest on loans 90 days or more past due. Repossessed assets consist of assets acquired through foreclosure or acceptance of title in-lieu of foreclosure.

(2) Asset quality information includes assets covered under FDIC loss sharing agreements. Such assets covered by FDIC loss sharing agreements are referred to as "Covered" assets. All other assets are referred to as "Noncovered".